A Four-Point Economic Plan that Works

Correct (economic) principles work throughout time. They also work for all people and for all types of organizations.

Several years ago, I (Ron Blue) had the opportunity to testify before a Senate subcommittee that was holding hearings on "Solutions for the New Era: Jobs and Families." While others on the panel pressed for more social programs, I said I believed the American family could benefit from following a four-part financial plan:

• Spend less than you earn.
• Avoid the use of debt.
• Maintain liquidity.
• Set long-term goals.

The committee chair listened carefully and recited the points back to me. He paused a moment and then said, "It seems like this plan is not just for the family. It seems it would work at any level."
"Yes," I laughed, "including the government."

I was smiling, but I did not miss the opportunity to exhort the senators to exercise strong leadership through wise financial planning. These four financial principles are so simple that they may easily be overlooked. Yet they have stood the test of time, having been developed and outlined thousands of years ago.

Used by permission. Excerpt from Wealth to Last by Larry Burkett and Ron Blue, c. 2003, Broadman & Holman Publishers, Nashville, Tennessee. Submitted by Sam Crosby, Stone, Granade & Crosby PC, Daphne

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